Cementir outbids Buzzi to buy Sacci

Shares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA.

Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem.

Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in March 2015 and had been approved by Italy’s Antitrust Authority in December.